Greenlane Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
GNLN$1.14-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| For the nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss (including amounts attributable to non-controlling interest) | $(8,882) | $(27,869) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 635 | 1,492 |
| Equity-based compensation expense | 86 | 255 |
| Change in provision for doubtful accounts | 41 | (154) |
| Change in fair value of contingent consideration | (1,000) | 103 |
| Amortization of debt discount and deferred financing fees | 3,373 | 2,711 |
| Gain on extinguishment of debt | (2,166) | — |
| Other | — | (17) |
| Changes in operating assets and liabilities, net of the effects of acquisitions: | ||
| Increase (decrease) in accounts receivable | (660) | 4,697 |
| Decrease in inventories | 4,516 | 18,005 |
| Decrease in vendor deposits | 40 | 2,945 |
| Decrease in other current assets | 1,058 | 3,968 |
| Increase (decrease) in accounts payable | (1,221) | (3,121) |
| Increase (decrease) in accrued expenses and other liabilities | 468 | (250) |
| Decrease in customer deposits | (1,520) | (1,573) |
| Net cash (used in) provided by operating activities | (5,232) | 1,192 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment, net | (173) | (633) |
| Proceeds from sale of equity investments | — | 53 |
| Net cash used in investing activities | (173) | (580) |
| Cash flows from financing activities: | ||
| Payments on Eyce and DaVinci promissory notes | — | (2,539) |
| Purchase consideration paid for Eyce LLC and DaVinci acquisitions | (300) | |
| Repayments of Asset-Based Loan | — | (15,000) |
| Modification costs of Asset-Based Loan | — | (751) |
| Proceeds from issuance of Class A common stock and warrants, net of costs | 5,640 | 3,852 |
| Proceeds from exercise of stock options, net of costs | 1,477 | — |
| Proceeds from Secured Bridge Loan, net of costs | — | 2,090 |
| Repayments of notes payable | (2,100) | — |
| Proceeds from notes payable | 2,950 | — |
| Proceeds from future receivables financing | 225 | 3,000 |
| Repayments of loan against future accounts receivable | (939) | (851) |
| Other | (5) | (29) |
| Net cash provided by (used in) financing activities | 7,248 | (10,528) |
| Effects of exchange rate changes on cash | 3 | 183 |
| Net decrease in cash | 1,846 | (9,733) |
| Cash and restricted cash, as of beginning of the period | 463 | 12,176 |
| Cash and restricted cash, as of end of the period | $2,309 | $2,443 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
Reconciliation of cash and restricted cash to consolidated balance sheets
| For the nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Beginning of the period | ||
| Cash | $463 | $6,458 |
| Restricted cash | — | 5,718 |
| Total cash and restricted cash, beginning of period | $463 | $12,176 |
| End of the period | ||
| Cash | $2,309 | $2,443 |
| Restricted cash | — | — |
| Total cash and restricted cash, end of period | $2,309 | $2,443 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest | $778 | $4,495 |
| Cash paid for amounts included in the measurement of lease liabilities | $— | $1,353 |
| Non-cash financing activities: | ||
| Non-cash purchases of property and equipment | $— | $133 |
| Extinguishment of debt in connection with Synergy asset purchase agreement | $2,658 | $— |
| Transfer from contingent consideration to notes payable | $— | $1,150 |
| Transfer from accrued expenses to notes payable | $— | $437 |
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